Fraud Risk: How is it changing? How is it still happening? What can be done?

Fraud Risk: How is it changing? How is it still happening? What can be done?

Level: Intermediate.

The topic that has been chosen has been indicated to be “the speed of change.” It was requested that the presentation examine what is changing in this space and what is staying the same, and how is risk is assessed and managed. As indicated above, this session will support the conference theme and also the session track as it will contribute to the session track through looking at how fraud risk is changing over time and the sophistication of the schemes being deployed by fraudsters against their organizations. Real life Fraud examples will be discussed and how the perpetrators were able to conduct the fraud and to cover it up. Some fraud statistics from the Certified Fraud Examiners Global and Canadian studies will be highlighted to support the trends that are occurring and what has been changing. It will also look at the speed of this change as these surveys have been conducted over a number of years. I will present some trends that are emerging and talk about the “Speed of the change”. This is a direct contribution to the conference theme and session track. The session will also describe how these frauds are happening given also the increase in sophistication and modernization of the tools being deployed to combat specific types of fraud. This will also contribute to the session track by bringing knowledge around the fraud scenarios to those in attendance and making them understand “what is changing in this space and what is staying the same, and how is risk is assessed and managed”. The presentation will close with providing examples of what the attendees can do in order to help mitigate the risk or to take appropriate action when a risk has been identified, again aligning with the theme by making attendees and the profession “Stronger together”.